Sylvester Stallone Knocks Lakefront Abode onto Market

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Sylvester Stallone recently re-listed his private Lake Sherwood, CA lake house for $4.995 million. The Rocky star originally put the crib on the market in March 2009 for $5.2 million, but with not a buyer in sight, Sly de-listed the property, spruced it up, and voila, it's now back on the market with a reduced price tag.

The 1.79 acre parcel of land boasts a charming main house, which was originally built in 1946 and recently updated to modern living standards. The house features three bedrooms, three baths, two fireplaces and spectacular lake and mountain views. The actor's property also boasts a guest house, caretaker's cottage, boat house, and a private dock.

Sly must be banking on a buyer with deep pockets (or one looking for a celeb owned home). Zillow points out that the median Westlake Village home value has decreased 8.7 percent year after year and is currently at $642,100.